FAQ

Firstly you must be clear about your budget before looking at properties. This will keep you focused and save you from a lot of unnecessary trouble and wasted time. Secondly make a detailed research of the company and the agent you are dealing with, this will benefit you later in the process since trustworthy and experienced people will be necessary when dealing with investments abroad. Last, but not least, make sure you have understood all clauses in the contract before signing. Never sign a contract that is in a foreign language you are unable to understand.

Yes. Since the Turkish law announced in August 2012 it is possible to invest in more than one property as a foreigner, and more countries have been added to the list of nationalities able to buy in Turkey.

Once the purchase contract has been signed there are only a few more practical things to deal with before you receive the title deed (TAPU in Turkish). Oasis Estate guides you through the whole procedure with competent and experienced staff, to make it as easy as possible and suit your every need.

According to Turkish law everyone who buys a house in Turkey needs DASK, which covers a percentage of damages in the event of an earthquake. This insurance must be in place before the title deed procedure begins. DASK (TCIP) is a compulsory earthquake insurance provided by the Turkish Government to ensure compensation for material damage to dwellings caused by natural disasters.

It is 4% of the property value stated at the Tapu Office, paid at one of the state banks at the time of conveyance.

• Certified translator at a Notary Public — approx. €50
• Giving power of attorney — approx. €175

Monthly bills can be paid automatically once a Turkish bank account has been established.

Due to official formalities it takes about 1–8 weeks before foreign citizens can have the title deed transferred into their name. Turkish citizens can have it transferred immediately.

Immovable property in Turkey, such as houses or villas, falls under Turkish law. In general 25% is inherited by the spouse and the remaining 75% by the children, if any.

• Property tax: 0.1% of the property value declared by the local municipality, paid before the end of May each year.
• Insurance: approximately €85–230, depending on your wishes and the values in your property.
• Complex payment: determined by the size of the complex, its common areas, and the wishes and needs raised by residents.

The complex fee is a yearly amount paid by all residents. It is a common amount set by the administrator, if authorised; otherwise it is decided by the Homeowners General Assembly by vote.

It is possible to get a mortgage of up to 60% of the property value stated by the bank, with a maximum term of 15 years under the Turkish system. Contact us and request a financial overview — we will give you an estimate over short or long terms.

There are several ways, and it is largely a matter of preference:

• A Turkish bank account you transfer the amount to directly — the money stays in your name during the entire process.
• A closed account with one of the Danish banks we co-operate with, which releases the money automatically as soon as the title deed is transferred into the buyer's name — the money sits in a neutral place until then.

Rules differ from country to country, so please contact us and we will give you detailed information for your exact situation.